Hi passer, welcome to SI and, in particular, to Rande's thread. You'll find a high level of competence here.
As far as the market goes, with each passing day of August, more signs of strength will surface if the market can hold it's own, resulting in people positioning themselves for a September rally. The psychology should be much like that of an October, where people will want to be in before the end of the month, but are concerned about a downdraft. At this point, things are so beaten down, my guess is that flat will be about the worst case.
I'm watching 3750 for support on the NAZ, if that holds, I'll become more confident sooner rather than later.
<<Perhaps I need to look at those graphs again and try harder to understand ....>> I think your read is correct, the charts look bad, but turns in this market are often quick.
Your picks look pretty good, I took an initial position in Sequoia recently (I like the name, and this xttp thing sounds like it has potential), bought some COVD today.
Best of luck, and go slow!
SR |
